TikTok has earned nearly $4 billion this year, all thanks to virtual coins used to pay for gifts for the platform’s content creators.
“The social video app came into 2023 with more than $6.2 billion of consumer spending and has managed to add $3.8 billion to that total over the year,” according to data.ai.
TikTok has become one of only five mobile apps to cross the $10 billion gross revenue mark and the first that is not a mobile game to do so.
Lexi Sydow, Head of Insights at data.ai, stated: “TikTok is poised to become the highest earning mobile app ever — approaching the $15 billion milestone in 2024. Consumers are spending over $11 million per day tipping their favorite content creators, propelling TikTok past the world’s most lucrative mobile game to date: the addictive and beloved Candy Crush Saga.”